Vivendi chief executive Jean-Marie Messier survived his company’s AGM meeting yesterday afternoon, despite calls from minority shareholders and staff at Canal+ for his resignation (see Troubled Times For Vivendi’s Messier).
Good figures Messier’s position will have no doubt been aided by better than expected Q1 financial results from Vivendi’s Media & Communications division, also posted yesterday afternoon. EBITDA came in at E1.1 billion, up 18% year on year; analysts at ABN Amro had forecast earnings growth of 12.7%.
Organic growth at the group was 13.2% in the quarter, whilst revenue reached E7.1 billion, ahead of ABN’s E6.3 billion forecast.